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    The Cat, the Bell & the ECB

    On Monday, the ECB took another step in its climate change mitigation journey with the creation of a climate change centre to coordinate environmental efforts across different parts of the bank. In The Snap, NordSIP’s new weekly column, Julia Axelsson picks up on Lagarde‘s reference to “Belling the Cat“.

    The ECB also announced it will use its own funds portfolio to invest in the euro-denominated green bond investment fund for central banks introduced by the Bank for International Settlements (BIS).

    In his annual letters to CEOs of investee companies, BlackRock’s CEO Larry Fink took one further step in support of climate change mitigation by endorsing the rising global commitment to net-zero CO2 emissions by 2050. Interestingly, BlackRock endorses, but doesn’t actually commit to a net-zero portfolio.

    Last week in the Nordics, Sweden’s innovation agency Vinnova announced it will provide SEK47 million in funding for research on sustainable finance over the next 5 years. The grant was provided to the Sustainable Finance Lab, a new consortium led by Sweden’s Royal Technical University (KTH).

    According to Transparency International 2020 Corruption Perceptions Index, Denmark, Finland, Sweden, and Norway were among the least corrupt countries in the world, but they can still do more to improve their performance, especially when it comes to money laundering.

    Meanwhile, the UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI) published a report discussing the use of new approaches to assessing climate-related risks in the insurance business better.

    Also this week, American Century Investments and Nomura Asset Management announced that the American Century Advanced Medical Impact UCITS, a sub-fund of Nomura Funds Ireland Plc, is now available to European investors. Triodos Investment Management appointed Rob van Boeijen as Fund Manager of its three Impact Mixed Funds, which invest in global equities and euro-denominated bonds.

     

     

    Image CC-BY-4.0: © European Union 2020 – Source: EP / BlackRock / NordSIP

    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA is Editor-in-Chief for NordSIP and Managing Director for Big Green Tree Media. She has 18 years of experience in the asset management industry in Stockholm, London and Geneva, including as a long/short equity hedge fund portfolio manager, and buy-side analyst, but also as CFO and COO in several asset management firms. Aline holds an MBA from Harvard Business School and a License in Economic Sciences from the University of Geneva.

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